Partnership deal gives agency two new revenue sources

Ouwens Casserly Real Estate has targeted ‘a big piece of existing market share’ after linking up with an established project sales business.

The Adelaide firm has formed a partnership with Building Assets, which has moved into the Ouwens Casserly head office and renamed itself Ouwens Casserly Projects.

Director Alexander Ouwens told REB the agency will now claim a share of its partner’s turnover and will also earn income from subcontracting agents to project sales when needed.

“The beauty of being under one roof is that our existing agents can be quickly upskilled in selling any particular projects,” Mr Ouwens said.

He said Ouwens Casserly offers its new partner two main assets: a strong buyer database; and the brand recognition that comes from putting out $2 million in vendor-paid advertising per year.

“We were also first-to-market with the virtual reality 3D tours, and that’s something that’s going to be really useful in the project space,” Mr Ouwens said.

“If the product isn’t even in existence yet, to be able to ‘walk’ people through the property is going to be ground-breaking technology for them.”

Mr Ouwens said the partnership should allow the project sales business to increase its annual sales from about 150 to 300 within two years.

“The marketplace for project sales has been underserviced in South Australia – there have only been one or two options for developers to go to in the past decade or so,” he said.

“There’s a big piece of existing market share we’re planning on eating into.”

Mr Ouwens told REB that Ouwens Casserly Projects would also benefit from the recent revitalisation of the CBD, which has made it a much more active market.

That has followed the upgrade of Adelaide Oval, the construction of a hospital and a reduction in red tape for pop-up bars, according to Mr Ouwens.

“What we’re seeing already is a much greater turnover of properties in the city than there was four or five years ago.”

Ouwens Casserly Projects is the agency’s fourth office, after it opened sites in the CBD in 2011, Henley Beach in 2012 and Collinswood in 2013.

[Related: Ouwens Casserly at centre of police siege]

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